A preferred equity investment was provided by Canyon Partners Real Estate to Gilbane Development Company for a joint venture in developing Aer, a high-quality multifamily project located in the South Lamar submarket of Austin, Texas. The eight-story building will consist of 375 units, including 45 affordable units with various studio, one-bedroom and two-bedroom layouts featuring balconies or patios. Residents can enjoy top-notch amenities such as a pool, fitness center, rooftop lounge, co-working spaces and more.
Conveniently situated three miles south of downtown Austin on South Lamar Boulevard near major highways like Highway 71 and MoPac Expressway/I-35 intersection makes this location highly desirable. This is the fourth investment made by Canyon Partners Real Estate in the past five years within the Austin area alone since its inception with over $2 billion invested across all asset types throughout Texas.
